Emergency Loan Program Rules Finalized

The Secretary of State issued the small business emergency loan program final rules this week.  The program was established with the passage of Senate File 195 during the 2025 session. GoWest had submitted comments on the proposed rules suggesting a change to eliminate that three-years of “audited” financial statements be required from the business. They were the only comments submitted on the rules.

The program is administered through the State Loan & Investment office and is intended to help respond to natural disasters and provide small businesses with short-term bridge loans.

Some of the required conditions for this loan are:

    • The Governor has declared a natural disaster in your county.
    • The small business must be legally established, in operation before the natural disaster, and physically located in the area where the natural disaster is declared.
    • Loan applications must be submitted to a financial institution that is registered with the Office of State Lands and Investments (OSLI).

To date, four credit unions are the only approved financial institutions to deliver the program: Grand Altitude FCU, Meridian Trust FCU, StagePoint FCU and First Education FCU.

To apply to be approved credit unions need to submit an application to the State Loan & Investment office. Credit unions are encouraged to apply for approval to be able to help members impacted by natural disasters.

Posted in Advocacy on the Move, Wyoming Advocacy.